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Jul 22 - 01:55 PM

EUR/USD - Bulls Retreat As Yields, Rates Fall, Death Cross Is Close

By Christopher Romano  —  Jul 22 - 11:57 AM
  • Post-ECB, Largarde presser rally above the 10-DMA reached 1.1831 on EBS

  • Into Europe close DE 10-yr yield DE10YT=RR sinks, euribor FEIZ2 rallies

  • German rate moves hlpe drive euro lower, EUR/JPY hits 129.59 on EBS

  • US$ buying vs majors emerges while USD/CNH hits session high near 6.4780

  • EUR/USD erases earlier gains, turns negative, hits a session low of 1.17635

  • Daily inverted hammer forms, daily RSI turns down, downside momentum builds

  • 5-DMA about to cross below the 200-DMA, once done a death cross is in place

  • Death cross could be a sign a prolonged EUR/USD bear trend is due

  • For more click on FXBUZ




eurusd Click here

Source:
Refinitiv IFR Research/Market Commentary

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